The hedge fund manager first started investing in the stock market during high school.

He attended Palisades Charter High School where he took AP classes and started his own skateboard company.

Because he loved trading stocks, one of his teachers nicknamed him "Milo Minderbinder"-- a character from Joseph Heller's novel "Catch-22" who was a World War II profiteer controlling the black market.

Then it was back to New York, to join Citicorp in 1994.

After only one year, he left to start his own hedge fund.

After leaving Citi, Loeb said he had to make sure he had some capital to launch his hedge fund.

While he hoped to raise $10 million for his fund, he was only able to secure a little over $3 million from friends and family members and money out of his own pocket.

The night before he started investing, he said he "absolutely panicked."

"I thought 'Oh my God. What am I doing? I'm a fraud.' there no way I could do it. What was I thinking? This is crazy. Luckily, I was up 8% the first month and didn't have that fraud feeling again..." he said to the audience at the Jewish Enrichment Center in 2009.

His hedge fund Third Point got its name from Loeb's love of surfing.

Again, going back his surfing roots, Third Point is named after a break at Malibu's Surfrider Beach.

Clearly, he was obsessed with it.

"Any girls here? You know when you're in Junior High School you were in love with a guy and you would write his name over and over on a piece of paper?" Loeb said during his 2009 talk at the Jewish Enrichment Center. "I used to write 'Third Point Partners' over and over. 'Third Point Partners' 'Third Point Partners' 'Third Point Partners.'"

"I used to fantasize how I would start my fund...I'd do logos, like this was really like a dream of mine to get this thing going," he said.

Outside of his hedge fund, Loeb has an impressive art collection, which has actually proved to be a good investment.

"I've enjoyed collecting art," Loeb said during his talk at the Jewish Enrichment Center.

"I've enjoyed art ever since, I'll tell you when, I went to Columbia. I went to the Met and I saw Poussin's 'Rape of the Sabine Women' and it's this incredible, epic, great, great painting. And anyway, I was at Columbia and luckily they had this core curriculum -- I had this art humanities class. There was the painting I felt like, I put up my hand, the painting 'It's Poussin.' All the prep school kids were like 'What a jerk.' They all knew so much more. The teacher, I got one of two A's, and all the prep school snotty kids didn't."

He said that's always followed art and after going to a collector's show at the MoMa he just really got into it.

"I really just started buying art as a passion. I never considered it an investment, but it ended up being a good investment."

Loeb's art collection is said to include mostly postwar and contemporary art, including Richard Prince, Basquiat, Andy Warhol, Mike Kelley, and Cindy Sherman.

It is that time of year and I just thought of the perfect gift in light of some of you. In case the President's hostage rant wasn't enough to turn you off, I thought I'd buy any of you a great book for gals who just keep on pursuing the wrong guy. Made popular on Oprah a few years back, "He's Just Not That Into You" seems like the perfect holiday stocking stuffer for true blue Democrats who just can't get enough of our President's smack downs on hard working successful Americans known as "the 2%"

These public letters from Loeb began back in 2000 when he used a 13D to urge a CEO to turn down a bid for a proposed merger because it was too low.

In 2000, he used a Schedule 13D -- a form the SEC requires shareholders who buy or sell more than 5% in a publicly traded company to file with the regulatory agency -- to urge the CEO of Agribrands to turn down the proposed bid for a merger with Ralcorp because the tender offer was too low.

Then, Cargill topped Ralcorp's bid and Loeb made $20 million off of it.

"Since you ascended to your current role of Chief Value Destroyer ('CVD') when you assumed the formal title of CEO in 1999, the shares have dropped over 45 percent, a destruction of shareholder value in excess of $520 million," Loeb wrote. "We find it ironic that share-holders must endure four years of your destructive stewardship in order to be entitled to a full vote."

That rule ended in May 2005 and the stock price had gained ~200% from March 2003 to Aug. 2005.

"We also learned that the Company leases a private jet from a partnership controlled by CEO John Collins and fellow board member Glen W. Sturm (1), a partner at Nelson Mullins Riley & Scarborough LLP ("Nelson Mullins"), a firm that also received millions of dollars of legal fees from the Company over the past several years. This cozy relationship gave us pause and caused us to wonder how Mr. Sturm and the Nelson firm could represent the interests of shareholders given he gravy train of legal fees earned by the firm and the fact that Sturm and Collins could potentially be tooling around in a luxurious business jet, possibly sipping Cristal Champagne cocktails at shareholder expense."

In 2005, Loeb demanded that Star Gas's CEO step down and go back to his Hampton home to 'hobnob.'

Cully/EEFAS

In 2005, Loeb, whose Third Point held a 6% stake in Star Gas, sent a letter to Irik P. Sevin, the company's president and CEO.

He called for Sevin, who he has known for a long time, to step down and go to his Hamptons mansion.

He writes:

"I have known you personally for many years and thus what I am about to say may seem harsh, but is said with some authority. It is time for you to step down from your role as CEO and director so that you can do what you do best: retreat to your waterfront mansion in the Hamptons where you can play tennis and hobnob with your fellow socialites."